Fintechs must treat data as fiduciary duty, not business asset, says RBI Governor Sanjay Malhotra

Mumbai fintechs must treat user data as a fiduciary responsibility, not a business asset. RBI governor Sanjay Malhotra stressed trust is key for financial system adoption and endurance. Firms growing significantly must take systemic responsibility beyond their balance sheets. Operational resilience and cybersecurity are essential prices for achieving scale.